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Cryptocurrency News Articles

The Market's Gaze Once Again Lingers on Pi Network as Its Native Coin Pulses Back to Life

May 22, 2025 at 02:02 pm

After a bruising May in which PI tumbled nearly 50%—plunging to $0.69—this rally shines like a lighthouse beacon for battered holders.

The Market's Gaze Once Again Lingers on Pi Network as Its Native Coin Pulses Back to Life

The crypto market’s gaze is shifting to familiar ground as Pi Network’s native coin, PI, showed signs of recovery in recent days.

Now trading at $0.84, PI inched up 8% in just 24 hours and 30% over four weeks. Daily trading volume also more than doubled overnight to reach $548 million.

As the market adjusts to new lows and the dust settles from May’s bruising 50% price collapse, PI’s rally shines like a lighthouse beacon for battered holders.

Still, with PI a heady 77% below its $2.99 peak from February and the price action showing signs of fatigue, a return to $1 or higher looks like a monumental task.

Relative strength index on the time frame is now in neutral territory at 54—no red flags on overbought fever or oversold fatigue. Major moving averages spanning 10 to 50 days all tilt upward, adding a steady undercurrent of optimism. The Awesome Oscillator is pulsing in the positive, while a strengthening Average Directional Index hints at building momentum. But with the moving average convergence divergence flashing sell signals, traders are keeping a close eye on the charts.

What happened

The optimism is unfolding despite project-specific headwinds that could still derail the recovery. Millions of users are grappling with slow mainnet migration and know-your-customer logjams, especially in China, where limited access and transfer restrictions persist.

What else is new

The community has been voting massively for a Binance listing, but so far, there has been no action from the exchange.

On OKX, where PI is listed, the coin’s market depth is less than $100,000, which is a stark constraint for growth. And with no major DeFi projects or decentralized applications to speak of, most of the demand for PI is fueled by speculation.

The brief sprint to $1.35 prior to the Pi Network Ventures announcement in May ultimately fizzled out quickly, showcasing how quickly the market mood can shift.

Finally, with 1.47 billion PI tokens set to unlock in the coming year, there’s a big potential for price pressure—unless the project team introduces token burns or demand surges unexpectedly.

The crypto project is also facing a fog of regulatory uncertainty, rumors of insider selling and concerns over centralized control, raising the stakes even higher for investors and the project’s core team.

If buyers manage to defend the support level at $0.74 and pierce through the resistance at $0.90, then we might see a return to that magic $1 threshold, especially if some powerful news, like a major exchange listing or token-burning event, emerges.

But if momentum stalls out or internal roadblocks persist, the price could tumble below $0.74, setting off another wave of selling and making recovery even tougher, especially with the looming token unlock.

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Other articles published on Jun 07, 2025